ADA, if it weren't for the fact that the price is underwater I would say that from a technical point of view it is wonderful.
The trend is clearly bearish and has been falling for months.
Even a child would understand that it is in a down trend, but not so many adults would understand that you shouldn't buy a coin like this while it's falling.
Now, we are at an important point.
Two things can happen:
1) it breaks the bearish purple trendline and pumps like there's no tomorrow, or
2) it breaks the 0.786 fib level which magically coincides with a monthly support, unique of its kind. If that happens, we'll teleport downstairs.
I already know that something else might happen, like that the price breaks the purple trendline and then bounces over and over on the blue support. This is because ADA is an altcoin and part of the BTC gang. And the gang members don't do anything unless they first see what the boss does.
Make your considerations.
The trend is clearly bearish and has been falling for months.
Even a child would understand that it is in a down trend, but not so many adults would understand that you shouldn't buy a coin like this while it's falling.
Now, we are at an important point.
Two things can happen:
1) it breaks the bearish purple trendline and pumps like there's no tomorrow, or
2) it breaks the 0.786 fib level which magically coincides with a monthly support, unique of its kind. If that happens, we'll teleport downstairs.
I already know that something else might happen, like that the price breaks the purple trendline and then bounces over and over on the blue support. This is because ADA is an altcoin and part of the BTC gang. And the gang members don't do anything unless they first see what the boss does.
Make your considerations.